a. Some firms will temporarily make economic profits
b. Some new firms will enter.
c. The long run equilibrium price will be higher than the initial equilibrium price.
d. All of the above will be consequences.
A
a. Some firms will temporarily make economic profits
b. Some new firms will enter.
c. The long run equilibrium price will be higher than the initial equilibrium price.
d. All of the above will be consequences.
A